Mr. Bob Wowk reports

HYDROGRAPH ANNOUNCES PARTNERSHIP LETTER OF INTENT WITH LOLC ADVANCED TECHNOLOGIES TO COMMERCIALIZE JOINTLY DEVELOPED GRAPHENE BLEND SHOWN TO SIGNIFICANTLY IMPROVE BATTERY PERFORMANCE

Hydrograph Clean Power Inc. has signed a letter of intent (LOI) to form a partnership with Ceylon Graphene Technologies Pvt. Ltd. through LOLC Advanced Technologies (LOLC AT), which owns a majority share of CGT through a joint venture with Sri Lanka Institute of Nanotechnology (SLINTEC).

The partnership will centre around a novel composite graphene blend that improves the charge acceptance of lead acid batteries by 47 per cent. With such stellar game-changing results, Hydrograph and LOLC AT agreed to commercialize this product and pursue the lead acid battery market, projected to be worth more than $47-billion by 2030, driven in part by electric vehicle dependency on the product.

Over the coming months, Hydrograph and LOLC AT will formalize the full partnership structure. In parallel, CGT will run all required product tests and analyses, including building and testing lead acid batteries with the composite graphene blend of Hydrograph's fractal graphene and CGT's reduced graphene oxide. Hydrograph will lead and co-ordinate sales and marketing of the combined graphene product to a lead acid battery global market and further commercial applications.

Hydrograph and CGT have been working together for over six months on applications suited to the combination of their materials. The result is enhanced unique properties of the combined graphene products. Hydrograph and CGT will continue to develop other applications for the composite graphene blend in different markets.

"The work Hydrograph and CGT have done together and this LOI show the power of our strategy and the importance of leveraging different but complementary competencies that each party brings to the partnership. We will continue to leverage this partnership to explore other applications," said Stuart Jara, a director and chief executive officer of Hydrograph. "This is a big step in the process of bringing the highest quality and most cost-effective graphene to the world."

This LOI is a further example of Hydrograph delivering on its ambitious commercialization goals in 2023, following a very disciplined business development approach to develop applications and build customer confidence in the highest-purity graphene on the market.

"When we were first introduced to Hydrograph's graphene, we immediately recognized that combining it with CGT RGO would result in a unique and enhanced graphene product. Our belief was validated through extensive R&D [research and development] and application work conducted at CGT's advanced laboratories," stated Manju Gunewardene, chief executive officer of CGT. "CGT is thrilled to be at the forefront of this groundbreaking partnership, and the company is confident that the joint venture will result in a game-changing product that will transform the graphene market."

Hydrograph is positioned for continuing growth trajectory in the potential $2.5-billion global graphene market.

About Hydrograph Clean Power Inc

Hydrograph Clean Power was founded in 2017 to finance and commercialize green, cost-effective processes to manufacture graphene and other strategic materials in bulk. Publicly listed on the Canadian Securities Exchange on Dec. 2, 2021, the company acquired the exclusive licence from Kansas State University to produce both the high-quality, cost-effective graphene and hydrogen through its patented detonation process.

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